March v. Miller-Jesser, Inc.

PRESIDING JUSTICE LaPORTA

delivered the opinion of the court:

Plaintiff, Jerry March, instituted this shareholders’ derivative action in chancery against Miller-Jesser, Inc. (Miller-Jesser), a corporation that had been engaged in the business of executing and clearing trades for its customers on the Chicago Mercantile Exchange, and against Marshall Katz (Katz), Fred Scher (Scher), and William Henner (Henner). Plaintiff alleged that the individual defendants had breached their fiduciary duties as directors of the corporation, had fraudulently and unlawfully conspired to exploit Miller-Jesser,…